Refer to the data in P19.9, except now assume Dela Corporation reports under IFRS. Depending on what your instructor assigns, do either parts (a), (b), (c), and (e) or parts (d) and (e). 

Data From P19.9.

Dela Corporation initiated a defined benefit pension plan for its 50 employees on January 1, 2020. The insurance company that administers the pension plan provides the following information for the years 2020, 2021, and 2022: 

There were no balances as at January 1, 2020, when the plan was initiated, because no credit was given for past service. The rate used to discount the company's pension obligation was 13% in 2020, 11% in 2021, and 8% in 2022. The service cost component of net periodic pension expense amounted to the following: 2020, $55,000; 2021, $85,000; and 2022, $119,000. No benefits were paid in 2020, but $30,000 was paid in 2021, and $35,000 in 2022. (All benefits were paid and all actuarial gains and losses were determined at the end of the year.) The company applies ASPE.

Transcribed Image Text:

For Year Ended December 31 2020 2021 2022 Plan assets (fair value) $50,000 $ 85,000 $170,000 Defined benefit obligation 63,900 ? Net actuarial (gain) loss: DBO 8,900 (24,500) 84,500 Remeasurement (gain) loss: fund assets ? (18,200) Employer's funding contribution (made at end of year) 50,000 60,000 95,000